LOS ANGELES, March 26, 2007 (PRIME NEWSWIRE) -- Peopleline Telecom Inc. (Pink Sheets:PPTM) wishes to advise that on March 1, 2007, it retained the services of Expedite Ventures Inc. AKA Wall Street Grapevine to conduct investor relations for the Company. At the time of engaging this firm the market was trading at $1.90 by $3.90 on little or no volume.
On March 7, 2007, trading commenced and persons started hitting the Bid Price for large amounts of shares and drove the price down, despite daily contact by Peopleline's CEO. Finally on March 11, 2007, an email was sent to the Principal Tim Dougherty rescinding the contract and requesting they discontinue any activity on this Company.
Despite daily phone calls, they continued for the next several days and finally drove the price down to $0.30 to $0.56 through their broker at Cambria Capital. Contact was made with Compliance Officers at Cambria who confirmed the manipulation, but no explanation was received. Originally Tim Dougherty agreed to rectify matters but nothing has occurred except further manipulation. In fact, in one of Wall Street Grapevine's daily news bulletins they mentioned the fact that PPTM was trading at a preferred level.
On March 19, 2007, a formal complaint was filed with the SEC but it is not known what action has been taken. It should also be mentioned our request was for simple orderly trading and Peopleline's CEO specified "no spamming" was to occur.
There are not undisclosed material facts in regard to the company.
About Peopleline: Peopleline Telecom Inc. is listed on the Pink Sheets (Pink Sheets:PPTM) and was established in 1998 to develop and sell VoIP/FoIP products and services to other Service Providers around the Globe. Peopleline launched its brand of retail IP telephony services to local users in Canada in 2004. Peopleline has its own line of unified messaging products that have been proven both in the corporate Financial Service market in New York and service provider market in Asia for several years and Peopleline is able to take advantage of these developments. The Company products run on Sun and Linux platforms are compatible with Cisco gateways and support both SIP and H323 devices. For further information, please visit http://www.peopleline.net
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.